NEW YORK, March 14 /PRNewswire-FirstCall/ -- Value Line, Inc., reported results for its third fiscal quarter ended January 31, 2008. Net income for the third quarter ended January 31, 2008 of $8,471,000 or $0.85 per share was $1,279,000 or 18% above net income of $7,192,000 or $0.72 per share in fiscal year 2007. Net income for the nine months ended January 31, 2008 of $20,773,000 or $2.08 per share was $1,401,000 or 7% above net income of $19,372,000 or $1.94 per share in fiscal year 2007. Operating income of $9,337,000 for the three months ended January 31, 2008 was 5% above operating income of $8,859,000 for the comparable period last fiscal year. Operating income of $27,718,000 for the nine months ended January 31, 2008 was comparable with operating income of $27,789,000 last fiscal year. The Company's income from securities transactions of $5,683,000 for the first nine months of fiscal 2008 was 37% above last year's. Total assets of $135,017,000 at January 31, 2008 were up 9% over total assets of $123,947,000 at January 31, 2007. Shareholders' equity of $85,469,000 at January 31, 2008 was 19% higher than shareholders' equity of $72,030,000 at January 31, 2007.
From time to time, the Parent has purchased additional shares of the Company in the market when and as the Parent has determined it to be appropriate. As stated several times in the past, the public is reminded that the Parent may make additional purchases from time to time in the future.
Value Line, Inc. is a leading New York based publishing and investment management company. The Value Line Investment Survey is one of the most widely read independent investment publications. Value Line also produces and publishes other proprietary investment periodicals in both print and electronic formats. The Company also licenses certain proprietary information, and provides investment management services to the Value Line family of no- load mutual funds and institutional and individual portfolios through its asset management division. For a detailed description of products and services, please visit http://www.valueline.com/.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This report may contain statements (including certain projections and business trends) accompanied by such phrases as "believe", "estimate", "expect", "anticipate", "will", "intend" and other similar or negative expressions, that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to demand for and market acceptance of new and existing products; renewals of subscriptions for the Company's products; fluctuations in the Company's assets under management due to broadly based changes in the values of equity and debt securities, redemptions by investors and other factors; competitive product and pricing pressures; the impact of government regulation on the Company's business and the uncertainties of litigation and regulatory initiatives and inquiries; and other risks and uncertainties, including but not limited to the risks described in Item 1A, "Risk Factors" of the Company's Annual report on form 10-K for year ended April 30, 2007, subsequent 10-Q filings and other risks and uncertainties from time to time.
Any forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Value Line, Inc. Consolidated Summary of Financial Results (in thousands, except per share amounts) For the three months For the nine months ended January 31, ended January 31, 2008 2007 2008 2007 Revenues $21,080 $21,061 $62,991 $63,197 Operating income $9,337 $8,859 $27,718 $27,789 Income from securities transactions, net $4,097 $2,909 $5,683 $4,147 Income before income taxes $13,434 $11,768 $33,401 31,936 Net income $8,471 $7,192 $20,773 $19,372 Earnings per share, basic and fully diluted $0.85 $0.72 $2.08 $1.94
